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Wells Fargo Advantage Funds® Add No-Load Investor Share Classes to Target Date Funds

SAN FRANCISCO, CA – January 31, 2007 – Wells Fargo Funds Management, LLC, today announced the addition of a no-load1 Investor share class to its entire target date fund lineup. In conjunction with the introduction of the new share class, the existing Class A, B, and C shares will close to new investors. Existing A, B, and C shareholders may continue to make subsequent purchases into these share classes of the Target Date Funds.

"We have introduced the no-load share class with the goal of assisting the do-it-yourself investor who is seeking a long-term asset allocation retirement solution," said Andrew Owen, head of Wells Fargo Fund Management's Investment Review and Product Group. "Additionally, the new share class provides a seamless avenue for retirement investors who wish to roll over their 401(k) assets."

The new no-load share classes applies to the following Wells Fargo Advantage Funds:

  • Wells Fargo Advantage Dow Jones Target Today FundSM
  • Wells Fargo Advantage Dow Jones Target 2010 FundSM
  • Wells Fargo Advantage Dow Jones Target 2020 FundSM
  • Wells Fargo Advantage Dow Jones Target 2030 FundSM
  • Wells Fargo Advantage Dow Jones Target 2040 FundSM

Facts About Target Date Funds
How they work: Designed as an all-in-one solution that investors can "set and forget," target date funds strive to systematically reduce risk over time, following a prepublished glide path and adjusting overall exposure to stocks, bonds, and cash as the target date approaches. Wells Fargo was one of the first to offer a target date product as a mutual fund in 1994.

Fast growth: Assets in target date funds grew 60% in 2005, from $43.8 billion to $70.1 billion, according to the Financial Research Corporation.

Investor interest: 73% of workers (both participants and nonparticipants) said they would be interested in their assets being managed for them in a target date fund (34% were very interested), according to the Employee Benefit Research Institute, April 2006.

Balanced funds may invest in stocks and bonds. Stocks should only be considered for long-term goals as values fluctuate in response to the activities of individual companies and general market and economic conditions. Bond values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. In general, when interest rates rise, bond values fall and investors may lose principal value. Investment strategies that emphasize particular market segments or fewer securities tend to increase the total risk of an investment (relative to the broader market). This fund is exposed to foreign investments risk, small cap risk, and mid cap risk. Consult the Fund's prospectus for additional information on these and other risks.

"Dow Jones" and "Dow Jones Target Date Indexes" are service marks of Dow Jones & Company, Inc., and have been licensed for use for certain purposes by Global Index Advisors, Inc., and Wells Fargo Funds Management, LLC. The Wells Fargo Dow Jones Target Date Funds, based on the Dow Jones Target Date Indexes are not sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones makes no representation regarding the advisability of investing in such product(s).